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Oando Announces Additional Production at Ebendo

By on October 24, 2012

Oando Energy Resources

Oando Energy has announced that the Ebendo – 4 well, in which OER has a 42.75% working interest has been brought on production at 2,000 bopd (855 bopd net to OER).

 

“Bringing the EB-4 well on stream boosts the combined gross production from the  Ebendo field (or “this field”) significantly to 4,000 bopd”, said Pade Durotoye, CEO of OER. “Following the success of EB-4 well, we continue to advance our Ebendo drilling program with our EB-5 well that is aimed at appraising the untested hydrocarbons contained within the five levels of hydrocarbon bearing sands that were encountered during the EB-4 drilling program.”

 

The production increase of 2,000 bopd (gross) is attributable to the tie in of the EB- 4 well that was recently drilled and completed as a dual string producer, as announced on August 20, 2012. The 2 strings have a total combined production capacity exceeding 2,000 bopd (gross), with the short string having the capacity for producing in excess of 1,000 bopd (gross) and the long string having the capacity for producing the balance. As a result of the increase in production, the Ebendo Field currently produces 4,000 bopd (gross) from the 2 producing wells, EB-1 and EB-4.

 

The field production capacity will be limited at 4,000 bopd (gross) for good reservoir management, whilst the field under goes further appraisal. Of the field’s total gross production of 4,000 bopd, 1,710 bopd is attributable to OER. OER owns a 42.75% non-operating interest in the Ebendo (OML-56) field.

About Oando Energy Resources Inc. (OER) OER currently has a broad suite of producing, development and exploration assets in the Gulf of Guinea (predominantly in Nigeria) with current production of approximately 5,000 barrels of oil per day (including the additional production from Ebendo Field).

 

OER has been specifically structured to take advantage of current opportunities for indigenous companies in Nigeria, which currently has the largest population in Africa, and one of the largest oil and gas resources in Africa.